i think i am over pay insurance

[xxl]

I think i am over paying on insurance current polic

$1050 a year
300000 libility
1000 deductable

solo operation
St.louis area
Agentcy State Farm
Any thoughts

[ezgoer1969]

Allstate
$320 year
1 mil liability
1k deductable

Solo

[doug1980]

State Farm
$700.00/year
1 mil liability
$1,000.00 deductable

Solo

[shovelracer]

You can get quotes from other companies pretty easy. If you are new you may be considered a high risk operation and the number of companies willing to take you on will be a lot less than after a few years. Every year people post their numbers and they are always all over the place. It depends on your state, your anticipated income, etc. Your deductible is high and your limit is very low. As you aquire assests you will find the need to protect yourself better with an umbrella policy, workers comp, better limits. When I started I paid about what you pay. Today I cough up about 10K to do business. Eventually it will pay for itself.

[xxl]

500 dedutable sorry got mixed up

[IRRITECH]

It really depends on your payroll. And the fact that you have $3mil in coverage. I pay $2400 and have $1mil. Also includes my trucks.

[shovelracer]

It reads 300K which wont even fly in NJ

[xxl]

shovelracer is its 300K

[IRRITECH]

shovelracer is its 300K

If we are talking about auto insurance then that sounds reasonable.

[xxl]

nope 300k liabitly thats it i thing in the morning calling around

[IRRITECH]

nope 300k liabitly thats it i thing in the morning calling around


That is definately a rip off

[cphillips0053]

Copy and Paste from my insurance guy. This is my first year in the business. He also handles my life, health, auto, and home. It's a guy I went to school with and he reps a bunch of different companies.

"I have rated the Commercial General Liability Insurance for your landscaping business and the best premium is going to be with Penn-America and this will give you a $1,000,000 liability limit. I have also added $10,000 worth of equipment for your mower and tools which includes theft coverage. The total premium is $1,065.45 per year. Once you have this policy for a year, we will be able to get a lower rate because of the prior insurance discount. Its a $500 deductible on accidents and $500 deductible on Equipment and it is based on ACV of $10,000 flat"

ACV is Actual Cash Value